Bank Of Baku

Azernegliyyatbank may launch self-financed mortgage program next year

Azernegliyyatbank may launch self-financed mortgage program next year
# 12 May 2009 15:43 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based Azernegliyyatbank plans to launch its self-financed mortgage program in 2010, said Emin Mammadov, Chairman of the Bank.

According to him, the bank will start negotiating with foreign financial institutions to raise long-term funds to finance mortgage loans.

Azernegliyyatbank has been in operation since 1989.

As of July 1, its asets stood at AZN 19.975 million, loan portfolio at AZN 16.050 million, deposit portfolio at AZN 8.043 million, total capital at AZN 11.203 million and authorized capital stock at AZN 11.203 million. It operates 4 branches across the country.
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